The illegal gambling market has become a significant concern, warns Ioanna Fiakou, the President of the National Betting Authority. Addressing attendees at the 6th Safe Gaming Conference, which marked the beginning of the Safe Gaming Week, Fiakou emphasized the urgent need to counteract the illegal market through a revised regulatory framework that the Authority is actively working on.

"The biggest threat we face currently is the illegal market," Fiakou stated. She stressed the importance of frank discussions about a fully regulated market, urging stakeholders to move beyond the dichotomy of 'legal' versus 'illegal' markets.

To tackle this issue, Fiakou proposes a balanced supervisory framework combined with appropriate legislation and regulations. Investing in proper training and informing personnel within the sector is equally vital.

Highlighting the broader vision beyond petty politics, Fiakou revealed that the Authority is formulating legislation aiming to ensure that licensed services are transparent and fair. The new rules would prevent gaming from becoming a conduit for criminal activities, disorder, or a black market economy. Moreover, the legislation aims to sever any ties with criminal elements and to guarantee player protection, particularly safeguarding minors and other vulnerable demographics.

The proposed legislation includes recommendations such as introducing new market products to ensure economic viability, issuing B2B licenses, emphasizing safe gaming measures, and initiating financial blocking in cooperation with banks to exclude clients engaging in illegal betting activities.

"The implementation of this revised legislative framework will benefit the broader community, business sectors, and aid in curbing the menace of the illegal market," Fiakou emphasized, adding that the Authority stands ready to provide expertise and support to political leadership. She noted the importance of this new legislative proposal receiving a positive outcome.

Reflecting on the Authority's mission since 2015, Fiakou said, "Our primary goal has always been to center the protection of the public, especially those who choose to engage in gaming, at the heart of the National Betting Authority."

Fiakou concluded, "We are here today because our direction is clear – to shield players and society from the adverse effects of excessive involvement in betting and gaming, a mission encapsulated by the establishment of Safe Gaming Week."